WCT on works contractors enhanced to 5% under PVAT Act-Public Notice

0 comments Wednesday, November 9, 2011
A public notice has been issued  by Excise and Taxation Department, Punjab stating that rate of VAT TDS on payments made to works contractors u/s 27(1) of PVAT Act, 2005, has been enhanced to 5%. Earlier such rate was 4%. However no notification to this effect is publically available as yet on the official website of Department. The public notice also doesnot state from which date the said amendment is effective, it just states at the end that it is effective immidiately. The said Public Notice has been published on 09/11/2011 in a daily newspaper.
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